2024 Solar Incentives Guide for Slidell, LA - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Slidell?

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Solar incentives are designed to mitigate the cost of installing a solar panel system on your home. These financial incentives are designed to encourage more homeowners to switch to renewable energy. Solar incentives may include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of Louisiana and some by your specific utility company, county or municipality. Categories of solar incentives include:

• Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (This is different from a tax deduction.)
• Tax Exemptions: Your solar panels might qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the added value of the solar panels when calculating property taxes on your home.
• Rebates: Rebates, or cash back after a purchase, are typically applied before any solar tax credits are calculated. Rebates can be provided by your local utility company, by your state or by your county.
• Net Metering: You can sign a net metering agreement with your Slidell utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your utility bill each month.

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Federal Solar Incentives

When you hear the term "solar incentives," federal incentives are likely the first thing that comes to mind. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a predetermined percentage of the cost of your solar system.

The ITC covers solar systems installed after January 1, 2006, and allows you to deduct from your taxes a percentage of the total cost of solar panels, equipment, labor and accessories. This credit can apply towards solar panels installed on a primary or secondary residence that you own in the United States. The original claim amount was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum claim amount.

Curious how the ITC might apply to your specific situation? Get in touch with your local Slidell solar panel installer to get more information.

The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). The Clean Energy Credit bolsters the current credit, increasing it up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After 2032, the percentage will decrease slightly each year until the program expires in 2035. Beginning in 2023, it will also be easier to get credits for energy storage systems with the new act.

More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit applies to you, talk to your local Slidell solar installers.

State & Local Solar Incentives

Tax credits, rebates and more can be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones as well. These incentives may be provided by your county or municipality, or by the Louisiana government. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Slidell

The expanding number of available solar incentives has helped tremendously increase the nationwide adoption of solar energy over the last 15 years. You might qualify for solar incentives from your local utility company, the federal government or the Louisiana government. We recommend talking to your local Slidell solar installation company to learn more about these incentives and to ensure that you're getting all the money you can for your solar panels.